Another fine idea that demonstrates this government is continuing in the long Greek government tradition of making laws on the hop without thinking.
After promising to abolish ENFIA, now the new plan is to extend it to foreign properties in an attempt to make an unfair law seem fair, by copying the most hated measure taken by the Italian technocrat PM Monti in 2012.
Deputy Finance Minister Trifon Alexiadis announced that ENFIA tax will apply to properties abroad during his speech at a real estate market conference.
Also, he announced that as of 2016 all property transfers will be made electronically and the new system for objective property values will apply in Septemebr 2016.
Regarding the ENFIA tax on properties abroad, Mr. Alexiadis said the ministry would use the data available according to which 3,200 properties in London belong to Greeks.
If the plan is to increase revenue then it would be far more preferable to ask these 3200 Greeks where they got the money to buy London properties and tax any undeclared sums.
As it stands, the chances are that the individuals the government want to target who can afford London properties, warned of the governments intentions will spent some more time in London becoming a UK residents thus depriving the Greek finance ministry of any small amounts of income tax the rich property owners were paying in Greece in the first place.
It is not clear either how the system will affect European nationals who are Greek tax payers and if this new brilliant idea will be a disincentive for people who want to relocate to Greece or how the foreign property values will be calculated.
